UK General Election 2024 (or 25)

Betfair trading & Punting on politics. Be aware there is a lot of off topic discussion in this group centred on Political views.
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Derek27
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sionascaig wrote:
Fri Feb 03, 2023 9:32 am
I was struggling to understand how come shell has paid no UK corp taxes for the last 5 years (apart from the windfall tax)... Sounds like they, like a lot of multis are just managing their tax affairs to pay taxes in jurisdictions with lowest tax rate...

Surely profits generated from UK oils should be due to UK gov & ditto Amazon & co...
It's funny how somebody in the UK can't have a £1K back bet with a UK operator on a horse in NSW without paying the turnover charge to NSW but Amazon can flog physical goods to the UK and not pay tax!
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Archangel
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There is a difference between tax avoidance and tax evasion. If a company can avoid paying tax by availing of legal loopholes they will. Its up to authorities to close the loopholes, no the companies.
sionascaig
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Archangel wrote:
Fri Feb 03, 2023 2:07 pm
There is a difference between tax avoidance and tax evasion. If a company can avoid paying tax by availing of legal loopholes they will. Its up to authorities to close the loopholes, no the companies.
yup - in fact they have a statutory duty to the shareholders
Archery1969
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sionascaig wrote:
Fri Feb 03, 2023 9:32 am
I was struggling to understand how come shell has paid no UK corp taxes for the last 5 years (apart from the windfall tax)... Sounds like they, like a lot of multis are just managing their tax affairs to pay taxes in jurisdictions with lowest tax rate...

Surely profits generated from UK oils should be due to UK gov & ditto Amazon & co...
Profits made by Shell and others world-wide is indeed huge. But profits made by UK operations is tiny in comparison. We can't tax them based on world-wide profits, only on UK based profit. Well, we could try but good luck in court. They obviously have very deeep pockets and it could go on for years, if not decades with appeals etc.

Its worth noting that the EU have tried to impose huge taxes on Exon mobile based on world-wide profits but they are being taken to court over it by the energy firm. The company have said if they lose then will appeal plus they will dramatically stop investing in Europe. Also, the US wont like us and the EU going after USA based energy/oil firms and will hit back in other ways via import taxes on European goods.

I got a friend who worked in the Oil/Gas industry for 30 years, onshore / offshore. Because of an agreement between the UK, Norway and Netherlands, he was never liable for income tax in any of those countries. Every penny he got was tax free. :o And I am sure many hundreds of thousands did the same too. :roll: That agreement was setup in the 1970s. :cry:
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Derek27
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Derek27
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Lettuce Liz says she was not respected and blames her downfall on "powerful economic establishment". :lol: :lol: :lol: :lol: :lol:
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Derek27
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Truss has written a 3000-word piece for the Telegraph about who's to blame for her downfall. I could have written it in 2. :lol:
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Crumpets
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I mean, she is right. If the powerful economic establishment was as crazy as she is, it would have worked beautifully.
greenmark
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She is right there was a coalition against her. She's deluded in believing that they were all wong and only she is right.
The financial markets, the OBR, the Bank of England, the majority of her own MP's, the 1922 commitee, even the members that elected her and then realised she was nuts, and the nasty, twisted media were all wrong.
Only Truss can save us!!! Streuth what a pratt! And when she says she's "not blameless" - Jeez, talk about being economical with the truth!!!
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Derek27
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Made a loss last night. I blame the tennis trading establishment. :D
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Derek27
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Sophy Ridge is asking Graham Shapps the question, what is the left-wing economic establishment? Good luck getting an answer to that one. :lol:
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Derek27
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Truss blames Joe Biden, civil servants, the Bank of England, media markets, the Conservative party, the OBR, IMF and the public for her failings. :D
greenmark
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Truss is quite clearly as mad as a badger. "Our assumption was that we'd worked up these plans with Treasury officials and if there had been a major problem it would have been flagged to us,". You're the f**king PM does any sane person really believe you weren't warned and in any case why did you muzzle the OBR and prevent them from reporting on the impact of a mini-budget that sent the markets into a wide-eyed panic.
Flipping heck the woman is as foul as a box of frogs!!
greenmark
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greenmark wrote:
Mon Feb 06, 2023 8:38 pm
Truss is quite clearly as mad as a Old Centaur employee. "Our assumption was that we'd worked up these plans with Treasury officials and if there had been a major problem it would have been flagged to us,". You're the f**king PM does any sane person really believe you weren't warned and in any case why did you muzzle the OBR and prevent them from reporting on the impact of a mini-budget that sent the markets into a wide-eyed panic.
Flipping heck the woman is as foul as a box of frogs!!
Er... since when was "badger" a word that necessitated being moderated to "Old Centaur employee"?
Can someone explain?
WTF why is the name of a nocturnal, black and white animal that lives in a sett a moderated word. You've got to be kidding me!!!!!
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Derek27
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greenmark wrote:
Mon Feb 06, 2023 8:43 pm
greenmark wrote:
Mon Feb 06, 2023 8:38 pm
Truss is quite clearly as mad as a Old Centaur employee. "Our assumption was that we'd worked up these plans with Treasury officials and if there had been a major problem it would have been flagged to us,". You're the f**king PM does any sane person really believe you weren't warned and in any case why did you muzzle the OBR and prevent them from reporting on the impact of a mini-budget that sent the markets into a wide-eyed panic.
Flipping heck the woman is as foul as a box of frogs!!
Er... since when was "Old Centaur employee" a word that necessitated being moderated to "Old Centaur employee"?
Can someone explain?
WTF why is the name of a nocturnal, black and white animal that lives in a sett a moderated word. You've got to be kidding me!!!!!
What's the word that was moderated to Old Centaur employee? You need to put in a few - or '.
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